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Avance Technologies Ltd.

BSE: 512149 Sector: IT
NSE: N.A. ISIN Code: INE758A01049
BSE LIVE 14:02 | 21 Apr 0.31 0
(0.00%)
OPEN

0.31

HIGH

0.31

LOW

0.31

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.31
PREVIOUS CLOSE 0.31
VOLUME 73319
52-Week high 3.20
52-Week low 0.31
P/E
Mkt Cap.(Rs cr) 6.14
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.31
Sell Qty 21704008.00
OPEN 0.31
CLOSE 0.31
VOLUME 73319
52-Week high 3.20
52-Week low 0.31
P/E
Mkt Cap.(Rs cr) 6.14
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.31
Sell Qty 21704008.00

Avance Technologies Ltd. (AVANCETECH) - Chairman Speech

Company chairman speech

Letter to Shareholders

Dear Shareholders

We are in the middle of extreme economic volatility. Be it Chinese turbulence Crudeoil price crash terrorist attacks Brexit or Rexit (Raghuram Rajan’s exit) eachsuch event adds to the uncertainty to the overall business confidence. Such situationsmake it very difficult to plan a long term strategy and also to stick to the existingstrategy. Amidst this uncertainty and chaos India has emerged as a bright spot. India isgrowing at a healthy rate with a stable government at the centre. Further the recentpassing of the constitutional amendment for Goods and Services Tax (GST) has broughtoptimism in the India’s business circle. The information technology sector isexpected to remain under stress due to the global uncertainty and shrinking IT budgets ofthe Companies. This shall put a downward pressure on the overall margins of the Company.The financial year 2015-16 was a difficult year for the Company but managed to reduce outoperating loss. It is due to the untiring efforts of the management and employees that thecompany has been able to improve efficiency. The overall business situation is stillchallenging but the growing number of smart phones increasing penetration of internet andfalling data tariffs will boost the market for mobile value added service providers.Various initiatives by the Indian Government like Smart Cities and Digital India are verypositive for the sector as a whole but it is equally important for us to capitalize andmake most of these opportunities. Your company is taking necessary steps towardsincreasing its digital presence and increases its product offerings. However the majorfocus would be towards client acquisition and improving operational efficiency.

Thank You for your continued support.

Yours Sincerely

Sd/-

Srikrishna Bhamidipati

Managing Director